All Forum Posts by: Franky Davis

@KeAndre Hayward definitely some anxiety. I think everybody stands at the edge of the cliff trying to decide whether or not to jump in some way or another. For us, we tried our best to become as informed as possible in addition to buying at a price that would allow us to compete in the rental market price range fairly well. Wish you the best as you move forward!

@Joseph M'Mwirichia thanks for the response! I actually grew up in Macon so small world. I think Macon is a good market and the outskirts of Macon have some great potential as well. Let me know if you'd like to continue to discuss Georgia investing. Perhaps we could partner up in the future. Have a great one!

@Bryce DeCora thanks! I appreciate that. So far, we are implementing these things into the build. I’ll definitely let you know if I have any specific questions. Thank you.

Hello everyone and thanks for your time,

    I am reaching out because my wife and I are trying to take the next step in online marketing to help with lead acquisition. Thus far, we have utilized brokers, direct mail, driving for dollars, etc. However, we don't have a strong online presence yet. At this time, we are attempting to have a Podio platform built. This is being modified from a platform created for wholesaling. Alot of the CRM is similar, in my opinion. However, I wanted to know if there were thoughts regarding how to build this for the buy and hold investor. Please let me know if there are critical functions that you have found most useful. I am not self managing. However, I may want to implement some automation with regards to my current property manager. I very much appreciate your time and hope this stimulates some discussion.

Thanks,
Franky

@Brian Diener welcome to the game! I, too recently began investing in Georgia. However, my wife and I have focused on South Georgia. Feel free to send me a message to connect. I’d love to run through deals with you or bounce ideas. Have a good one.

@Chris Arce great job! Congrats and welcome to the club of those willing to take calculated risk to benefit your future! Kudos. My only advice would be to stick to your gameplan. Follow it step by step and don’t get pushed around. You’ll do great! Then, get ready to do it again! Good luck.

@Nancy Carr that is definitely an anxiety provoking situation. I think you’ve already gotten great advice above. I would consider contacting multiple previous landlords to inquire about his status as a renter. You could also contact previous employers for references in order to establish his baseline character. If he has reasonable justification for the incident and he has nothing but flawless character references, I think you would be safe to move forward. I would definitely have my red flags up though.

@Devon Suits congrats on entertaining taking the dive! You’ve gotten a lot of great advice here thus far. I’ll contribute my limited two cents as a very early in the game investor. Personally, I would focus the majority of my attention on perfecting my lead generation with the goal of converting these leads into buy-and-hold investments. Your second exit strategy on these leads could be wholesaling for leads that you do not feel fit your perfect criteria for buy-and-hold. I think this will allow you to hone your craft without spreading yourself too thin and becoming inefficient. If you are able to develop your system to operate efficiently, enough to generate regular revenue from wholesaling, that could ignite the growth of your buy-and-hold portfolio. My wife and I have purchased nine units thus far and are asking ourselves a very similar question in order to increase our growth. I’m excited to see how you get started!

@Anthony Liguori sorry for the later response. I got no money down financing because the community bank used my future orthopedic surgery salary as collateral. This is a smaller community bank. So, they are able to hold the note on their books and manipulate the terms a little bit more. I think it's a good idea to reach out to a lot of smaller community banks in your area, in addition to credit unions, to begin establishing those relationships for better terms. You man not get no money down. However, a 10-15% reduction in down payment for investment property can be a jumpstart to get you in.

@Gil Segev thanks! Yes that is correct.